DATE: FROM: CONTACT:

April 19, 1999 United Bankshares, Inc. 514 Market Street Parkersburg, WV  26101 Steven E. Wilson (304) 424-8704

FOR IMMEDIATE RELEASE

Record First Quarter 1999 Earnings 

United Bankshares, Inc. (UBSI), a $4.7 billion bank holding company headquartered in West Virginia, reported record first quarter 1999 earnings of $17.2 million or 39¢ per share. This represents a 19% increase over earnings of $14.4 million or 33¢ per share for the first quarter of 1998.

United’s key performance ratios were strong for the first quarter of 1999; return on average assets was 1.52% and return on average equity was 16.17%. These key financial performance ratios are indicative of United’s earnings strength and strong capital levels. United continues to be one of the best performing regional banking companies in the nation.

The annualized first quarter dividend of 20¢ per share equals 80¢ which would represent the twenty-six consecutive year of dividend increases for United shareholders.

United's asset quality remains strong with the nonperforming asset level at 0.71% of total assets, the capital ratio remains strong at nearly 10% and United is categorized as well capitalized based on the risk-based capital ratio, considerably exceeding the regulatory minimum requirement. These ratios compare very favorably to industry averages and support a strong financial position.

Analysts are forecasting record earnings for United in 1999, and on the basis of operating earnings, United continues to be one of the highest performing regional banking companies in the country.

United Bankshares, with $4.7 billion in assets, is the second largest West Virginia headquartered bank holding company. UBSI with its lead bank, United National Bank, and Virginia subsidiary, United Bank, has 78 full-service offices in West Virginia, Virginia, Maryland, Ohio, and Washington, D.C.

United Bankshares stock is traded on the NASDAQ (National Association of Securities Dealers Quotation System) National Market System under the quotation symbol "UBSI".

This press release contains certain forward-looking statements, including certain plans, expectations, goals and projections, which are subject to numerous assumptions, risks and uncertainties. Actual results could differ materially from those contained in or implied by such statements for a variety of factors including: changes in economic conditions; movements in interest rates; competitive pressures on product pricing and services; success and timing of business strategies; the nature and extent of governmental actions and reforms; and rapidly changing technology and evolving banking industry standards.